China Cuts Copper Imports for 6th Month as Home Output Rises
- Copper price falls after China reports sluggish trade data
- Smelters are instead boosting imports of ore, concentrate
This article is for subscribers only.
China, the world’s biggest producer and user of refined copper, cut imports for a sixth month to the lowest level since February 2015 as demand slowed and domestic production rose. Copper prices declined.
Purchases of unwrought copper and products fell to 340,000 metric tons in September from 350,000 tons in August and 455,258 tons a year earlier, according to Chinese customs data on Thursday. Imports in the first nine months rose 12 percent to 3.79 million tons. Copper fell as much as 0.5 percent to $4,788 a ton on the London Metal Exchange.